Collins Stewart Upgrades Tyco Electronics (TEL) to Hold

June 16, 2009 7:57 AM EDT

Collins Stewart upgrades Tyco Electronics (NYSE: TEL) from Sell to Hold.

Collins analyst says, "Without a major drop off in revenue and a leaner cost structure, Tyco Electronics' stock may not have much downside potential and we are upgrading our investment rating to HOLD from SELL. Although we expect end market demand to remain muted in near-term and the recovery drawn from Tyco Electronics now has a more stable revenue base from which to realize cost savings through its restructuring initiative...For fiscal 3Q09, we are raising our sales estimate to $2.525 billion from $2.4 billion and increasing our adjusted EPS projection to $0.17 from $0.03. For fiscal 2009, we are increasing our sales projection to $10.295 billion from $10.07 billion and increasing our adjusted EPS projection to $0.78 from $0.48. For fiscal 2010, we are increasing our sales projection to $10.418 billion from $10.018 billion and increasing our adjusted EPS projection to $1.08 from $0.62."

To see more analyst ratings on TEL Click Here.
Tyco Electronics Ltd. (Tyco Electronics) is a global provider of engineered electronic components, network solutions, undersea telecommunication systems and wireless systems

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